EcoZoom is a social enterprise and certified B-Corporation that brings safe, clean, and affordable cookstoves to developing countries across the world. By providing borrowers with sales training, official certification, and interest-free stoves on credit to resell at a personal profit, EcoZoom aims to empower workforces and local economies while also creating financially sustainable markets for clean cookstoves.

Pricing their cookstoves between $30-40 USD, EcoZoom strongly advocates for every individual’s right to clean, safe, and affordable energy. Each stove incorporates user feedback throughout the development cycle to ensure quality, functionality and efficiency. The resultant products are ecologically designed and fuel efficient, reducing pollutant carbon emissions by 1-3 tons per year and using 55-70% less fuel than traditional open fires or unimproved stoves.

Since its incorporation in 2011, EcoZoom has sold almost 100,000 cookstoves, impacting the lives of 500,000 people across 14 countries in Africa and Latin America. This translates into a reduction of over 192,000 tons in carbon emissions.

By making these affordable, fuel-efficient, and clean stoves available throughout the developing world, EcoZoom wants to improve the health, income, and surrounding environment of its targeted communities.

A unique lending approach:

Through this partnership, EcoZoom is now able to offer clients -- with a focus on women and disadvantaged youth -- the opportunity to become zoomers (stove sales agents) within their own communities. This will increase the organization’s reach while also offering individuals a concrete income to lift themselves and their families out of poverty.

Under this program, Kiva lenders’ funds will be used as working capital to provide borrowers with in-kind loans in the form of stoves. As part of the process, potential sales agents are invited to complete trainings in sales, finance, marketing, and logistics. Upon completion of the trainings, each borrower becomes a certified sales agent, receiving access to stoves on credit at a discounted price. Each loan is interest-free, allowing borrowers to profit from their sales and earn a substantial income.

This program also allows borrowers to begin building a credit history, giving them future access to formal funding from the banking sector.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jul 9, 2014 Oct 12, 2005
Total Loans $32,625 $700,349,775
Amount of raised Inactive loans $0 $610,650
Number of raised Inactive loans 0 373
Amount of Paying Back Loans $18,400 $132,418,150
Number of Paying Back Loans 4 149,178
Amount of Ended Loans $14,225 $567,320,975
Number of Ended Loans 4 706,056
Delinquency Rate 0.00% 7.84%
Amount in Arrears $0 $6,793,772
Outstanding Portfolio $14,026 $86,706,776
Number of Loans Delinquent 0 27,701
Default Rate 0.00% 1.12%
Amount of Ended Loans Defaulted $0 $6,327,222
Amount of Ended Loans $14,225 $567,320,975
Number of Ended Loans Defaulted 0 19,053
Currency Exchange Loss Rate 0.00% 0.23%
Amount of Currency Exchange Loss $0 $1,591,452
Refund Rate 0.00% 0.69%
Amount of Refunded Loans $0 $4,842,450
Number of Refunded Loans 0 5,332

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 41.67% 74.29%
Average Loan Size $4,078 $417
Average Individual Loan Size $4,078 $655
Average Group Loan Size $0 $1,844
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $1,800 $3,373
Average Loan Size / GDP per capita (PPP) 226.56% 12.35%
Average Time to Fund a Loan 4.1 days 6.22 days
Average Dollars Raised Per Day Per Loan $995.45 $66.95
  Average Loan Term 6.25 months 10.71 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 4 344,823
  Journaling Rate 75.00% 41.54%
  Average Number of Comments Per Journal 0.00 0.07
  Average Number of Recommendations Per Journal 0.00 1.61

Borrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 0% APR 36.00% PY 32.11% PY
  Profitability (return on assets) N/A 0.5% -1.95%
  Average Loan Size (% of per capita income) N/A 56.00% 19.57%

Country Fast Facts

Field Partner Staff

Pheobe Kemunto
Purity Kuria
Samir Sayed
Ben West